NYSE Arca · ETF
Invest in MMSD ETF from India
Indian and foreign residents can buy NYLI MacKay Muni Short Duration ETF (MMSD) units directly through Paasa.
By Paasa · Updated
MMSD at a glance
- Price
- $24.73+$0.08 (0.32%)
- Expense ratio
- 0.25%
- Day range
- $24.63 – $24.73
- Assets
- $75.3M
- Domicile
- the US
- Holdings
- 150
- Launched
- 2025
- Dividends
- Distributing
- 1 month
- -1.79%
- 6 months
- -2.10%
- YTD
- -2.56%
- 1 year
- -3.10%
- 5 years
- —
Price change, excluding dividends.
Top 10 holdings
- 1DREYFUS GOVT CASH MAN INS3.8%
- 2CT HLTH & EDUCTNL-C- FRN2.0%
- 3Atlanta Ga Arpt Rev 5.0% 01-jul-20291.8%
- 4DELAWARE CO-REF-REV 5.0 21.8%
- 5Chicago Ill O Hare Intl Arpt Rev 5.0% 01-jan-20281.6%
- 6Pingree Grove Ill Spl Svc Areas No 2 & 7 Spl Tax 3.5% 01-mar-20311.5%
- 7Colorado Health Facs Auth Rev 5.0% 15-nov-20291.3%
- 8Alabama Toll Rd Brdg & Tunl Auth Rev 5.0% 01-oct-20321.2%
- 9Southeast Energy Auth Coop Dist Ala Energy Supply Rev 5.0% 01-oct-20301.2%
- 10Main Str Nat Gas Inc Ga Gas Supply Rev Var 01-may-20541.2%
MMSD holds 150 securities in total. These 10 are 17.4% of the fund.
Where the money is invested
Countries
- United States96.2%
- Other3.8%
How to invest in MMSD from India
Step 1
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Step 2
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Step 3
Search MMSD and buy
Find the fund by its ticker, MMSD, on NYSE Arca, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Why invest in MMSD from India
What MMSD holds
The NYLI MacKay Muni Short Duration ETF (MMSD) is designed to provide investors with an ongoing revenue stream, characterized by its exemption from ordinary federal income taxation.
Hold a dollar asset
MMSD is priced in US dollars, so a weaker rupee adds to what it's worth in rupees. The rupee depreciated over 85% against the dollar between 2010 and 2025.
Buy a fraction of a unit
Buy by amount, not by unit, and get the matching fraction of one MMSD unit. There is no minimum trade size.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Planning to hold more than $60,000 in US ETFs? Here's what US estate tax means for you.
US-domiciled ETFs held in your own name fall under US estate tax rules. If your US holdings cross $60,000, the amount above that can be taxed at up to 40% when the account passes to your family.
A UCITS ETF tracking a similar market sits outside US estate tax.
Frequently asked questions
Can I buy MMSD from India?
Yes. Indian residents can buy NYLI MacKay Muni Short Duration ETF (MMSD) through Paasa. It is listed on NYSE Arca and trades in US dollars. Your money leaves India under the RBI's Liberalised Remittance Scheme, and the units are held in your own name at Interactive Brokers.
What does MMSD invest in?
NYLI MacKay Muni Short Duration ETF holds 150 securities. Its largest holdings are DREYFUS GOVT CASH MAN INS (3.8%), CT HLTH & EDUCTNL-C- FRN (2.0%) and Atlanta Ga Arpt Rev 5.0% 01-jul-2029 (1.8%). It is a distributing fund domiciled in the US.
What is the expense ratio of MMSD?
NYLI MacKay Muni Short Duration ETF has an expense ratio of 0.25% a year, taken from the fund's assets rather than billed to you. The fund manages about $75.3M.
How are MMSD dividends taxed in India?
NYLI MacKay Muni Short Duration ETF is a distributing fund. It pays the dividends from its holdings out to you in cash. Dividends are taxed at your slab rate in India. Paasa's dividend report lists the gross dividend and any tax withheld for each payment.
What tax do I pay in India when I sell MMSD?
The US does not levy capital gains tax on shares for Indian residents. Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling. The gain is worked out in rupees at the USD/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.
Can I buy a fraction of one MMSD unit?
Yes. You can buy by amount rather than by unit and add to your position over time. One unit is $24.73, and there is no minimum trade size.
What happens to my MMSD units if I pass away?
US-domiciled ETFs held in your own name fall under US estate tax rules. If your US holdings cross $60,000, the amount above that can be taxed at up to 40% when the account passes to your family. A UCITS ETF tracking a similar market sits outside US estate tax. Paasa's US estate tax calculator shows the exposure for a given portfolio value.